Cancel the Debt

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Cancel the debt

From JPIT and Christian Aid...

Coronavirus is affecting communities around the world. As the pandemic spreads to the poorest countries in the world, fewer resources and funds will mean that the safety nets we've seen at home won't be possible for these communities.

That's why charities and organisations around the world are calling for a debt jubilee for poorer countries. This would mean that debt repayments of poor countries are cancelled during this crisis.

A debt jubilee would keep money within countries to be spent on public health and protection, and make sure that they are not hit by a debt crisis in the future. So far, countries in the G20 have offered to put debt payments on hold for some countries. But this just risks delaying a debt crisis that could have devastating effects.

That's why we're calling on Rishi Sunak, as Chancellor of the Exchequer, to lead the way in calling for concerted actions by governments, multilateral bodies and private sector creditors to cancel debt payments outright, and to broker a debt relief deal for the poorest countries.

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